🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Northrop wins Space Development Agency's contract to build 14 satellite

Published 07/18/2022, 03:11 PM
Updated 07/18/2022, 03:51 PM
© Reuters. FILE PHOTO: A Northrop Grumman building is shown in El Segundo, California, U.S., February 7, 2019. REUTERS/Mike Blake
NOC
-
LHX
-

(Reuters) - Defense contractor Northrop Grumman Corp (NYSE:NOC) said on Monday it had won a contract to build and deploy a low-Earth orbit constellation of 14 satellites for the U.S. Space Development Agency.

The satellites are part of the agency's plan to build the Tranche 1 Tracking Layer for detecting, identifying and track hypersonic weapons and other advanced missiles from their earliest stages of launch through interception.

The agency said the Northrop award had a potential value of about $617 million.

© Reuters. FILE PHOTO: A Northrop Grumman building is shown in El Segundo, California, U.S., February 7, 2019. REUTERS/Mike Blake

The space agency also awarded a similar contract to L3Harris Technologies (NYSE:LHX) Inc, with a potential value of about $700 million.

The launch of the satellites is expected to start in April 2025.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.